Hess (HES +3.2%) has started the sales process for its oil terminal network and is seeking $1B,...

Hess (HES+3.2%) has started the sales process for its oil terminal network and is seeking $1B, Bloomberg reports. HES is said to have asked suitors to submit expressions of interest by July 2 for the 19 terminals. Mentioned as potentially interested buyers are P-E firms ArcLight Capital and Alinda Capital, plus Sunoco Logistics Partners (SXL), Buckeye Partners (BPL) and Marathon Petroleum (MPC).